Last Updated on December 7, 2024 by Timileyin Awogbade
The Federal Government’s student loan program has drawn criticism from the Academic Staff Union of Universities which claims that beneficiaries’ frequently find it difficult to repay their debts.
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“The union’s research on student loan systems in other countries shows that graduates often become societal burdens and feel demoralized,” said ASUU President.
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According to him, a graduate student who owes N5 million is uncertain about finding employment within the next ten or twenty years.
Osodeke proposed that the need for student loans would be eliminated by raising the financial allotment for education.
Additionally, he pointed out that this is the third time that such an initiative has been tried and failed, casting doubt on its feasibility this time. He cited the US, where student loans are common, and said that many students are unable to pay back their debts, which has serious repercussions, including suicides.
To solve the students loan situation, he argued, President Joe Biden had to step in. The lecturer asked how the program could be successful in a nation where unemployment is high.
Timileyin Awogbade
Timileyin Awogbade is a journalist, seasoned copywriter, expert editor, and experienced content creator at Dailylight Channel with over 5 years of experience in writing, content strategy, and SEO.